Biotech and rare diseases drive Recordati's accounts

"2025," said Rob Koremans, chief executive officer of Recordati, "was another year of significant progress for the business. We once again achieved our financial targets despite a complex macroeconomic environment, including an increased negative foreign exchange impact. During the year we further strengthened the portfolio through strategic partnerships in both the Specialty & Primary Care and the Rare Diseases businesses. The Rare Diseases sector continues to register strong momentum, proving to be a key driver of growth and value creation for the Group. We are excited about Isturisa's opportunity to address the broader Cushing's syndrome market, with accelerated patient growth in the US. With the solid foundation built, we expect 2026 to be another year of disciplined execution in which we will continue to pursue our strategic objectives, preserve our distinctive margins in the industry and create sustainable value for all our stakeholders."

On 29 January, Recordati announced the signing of a licensing and collaboration agreement with Moderna for the worldwide development and commercialization of mRNA-3927, an investigational product for the treatment of propionic acidemia. Under the terms of the agreement, Moderna will continue to lead the development of mRNA-3927, in collaboration with Recordati, and, if the product is approved, Recordati will lead its global commercialization.

Under the terms of the agreement, Recordati will make anupfront payment of $50 million to Moderna and pay up to an additional $110 million depending on the achievement of near-term regulatory and development milestones. Moderna will also be entitled to receive commercial and sales milestones, as well as royalties in increments on annual net sales. Recordati does not expect any significant impact on its Ebitda prior to any launch.